200 MPs call for pension fund to divest fossil fuel investments

More than 200 MPs have called for their pension fund to phase out investments in fossil fuel companies.

Large numbers of Scottish politicians have signed the pledge, including Highland MP Drew Hendry, the Scottish Nationalist Party’s energy spokesman at Westminster.

A small group of parliamentarians including the Green Party’s Caroline Lucas kicked off the “Divest Parliament” campaign in 2014.

The pledge says unchecked climate change threatens to undermine the economy, the environment and global security.

The vast majority of remaining fossil fuel reserves need to be left in the ground to help meet climate change targets, it says.

It continues: “We believe Members of Parliament have a responsibility to act on climate change and a unique opportunity to show leadership on climate action, responsible investment and the management of climate risk through addressing the practices of our own pension fund.

“As MPs past and present, and members of the Parliamentary Pension Fund, we call on the trustees to uphold their fiduciary duty and take the financial risks of climate change seriously.”

Campaigner Sally Clark said: “It is extremely encouraging that so many Scottish MPs from all political parties are speaking out about the urgent need to divest from fossil fuels in order to keep global warming below 1.5 degrees.”